Suntory is looking for local partners in India to expand its drinks and nutrition businesses, he said, although in China, which he acknowledged is still an attractive market, he cannot justify sending in international staff for an investment push in the current environment.
Earlier this year, a bottle of Yamazaki 55 was sold at a duty free store in Istanbul airport for €488,000 which is equivalent to about Rs 4.14 crore.
In order to be called Japanese whisky, the spirit must be fermented, distilled, and aged in Japan; it must be made with malted grain, using water sourced from Japan; and the whisky must be bottled in Japan.
In an interview to CNBC-TV18 Aashish Tater of fortunewizard.com shared his reading and outlook on fundamental side of the market, specific stocks and sectors.
Suntory has bid below USD 1 billion for the entire business, and the bid has the backing of three private equity investors, the sources said.
Radico Khaitan produces brands like 8PM whisky and Magic Moments vodka. IMFL contributes 70 percent to the company‘s revenue and the balance 30 percent is led by country liquor.
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